Plug Power (NASDAQ:PLUG) Shares Down 3.4% – Time to Sell?

Plug Power, Inc. (NASDAQ:PLUG)’s stock price dropped 3.4% on Monday . The stock traded as low as $2.47 and last traded at $2.56. Approximately 182,584,914 shares were traded during trading, an increase of 92% from the average daily volume of 95,216,930 shares. The stock had previously closed at $2.65.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. BMO Capital Markets dropped their price objective on Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a report on Tuesday, August 12th. Morgan Stanley reissued an “underweight” rating and issued a $1.50 target price on shares of Plug Power in a report on Thursday, October 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. Finally, Susquehanna lifted their price target on Plug Power from $1.80 to $3.50 and gave the stock a “neutral” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and an average target price of $2.54.

Plug Power Trading Down 3.4%

The company has a 50 day simple moving average of $2.61 and a 200 day simple moving average of $1.74. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $2.96 billion, a PE ratio of -1.11 and a beta of 2.28.

Plug Power (NASDAQ:PLUG) last released its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%.The business had revenue of $177.06 million for the quarter, compared to analyst estimates of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. Analysts predict that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

Several hedge funds and other institutional investors have recently made changes to their positions in PLUG. Kovack Advisors Inc. purchased a new position in Plug Power during the third quarter worth about $26,000. Sender Co & Partners Inc. purchased a new stake in Plug Power in the 2nd quarter valued at approximately $26,000. Yousif Capital Management LLC acquired a new position in Plug Power during the 3rd quarter worth approximately $27,000. Prakash Investment Advisors LLC purchased a new position in shares of Plug Power during the 3rd quarter worth approximately $27,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Plug Power in the 1st quarter valued at approximately $28,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

About Plug Power

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.